NEW Government Announcements Explained for Property Investors UK 2020

Samuel Leeds

NEW Government Announcements Explained for Property Investors UK 2020

The government made announcements regarding Stamp Duty, VAT and Government Grants. I look at how they are going to affect property investors and how they can take advantage of these announcements during these times. Some of the changes include: –

  • An immediate stamp duty holiday for homes sold for up to £500,000 in England and Northern Ireland until 31 March next year was also announced. Sunak said the move would save jobs in the construction sector and encourage homeowners to move and invest in their homes.


  •  Permitted development will increase in response to the spread of Coronavirus (COVID-19), MHCLG has published an update on planning matters, including temporary measures to make it easier to operate the planning system. 


  • A cut in VAT from 20% to 5% for hospitality, tourism and accommodation services – including pubs, restaurants, cafes, hotels, zoos and cinemas – until next January would cost the Treasury £4bn, he said. It is effective from next Wednesday and covers food, accommodation and attractions but will not apply to alcohol.


  •  A new policy, “Eat out to help out”, which the chancellor described as creative and never tried in the UK before, will give people a 50% discount on eating in restaurants and cafes, from Monday to Wednesday throughout August. Businesses will need to register through a website, open from next Monday. The maximum discount per head under the scheme will be £10. 


  • Businesses will be paid £1,000 per employee to retain furloughed staff amid concerns that companies are about to sack tens of thousands of workers as the original job retention scheme begins to wind down. Companies will be given £2,000 for each apprentice they take on under the age of 25.


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